Developer granted tax abatement for project at Wyre Wynd site

A New York developer planning to rehabilitate the former Wyre Wynd facility is the recipient of the first Griswold business incentive tax abatement. Voters at a Feb. 24 town meeting authorized the board of selectmen to enter into an agreement with Notus Eurus of Port Chester, NY to develop the Anthony Street industrial site for future small business and light manufacturing.

"The whole idea is to try to develop the property so that small cottage businesses can set up there," said Notus Eurus Chief Executive Officer Jim Bardia. "All we can do is offer them a good space at a low price and hope they come."

Under the plan, Notus Eurus would receive tax abatement of 60 percent in the first year and 40 percent in the second year on the projected $1 million worth of new development on the site. The improvements would include a 60,000-square foot structure along the railroad spur. That structure, which would have rail access, would only be built if a tenant is readily available for it, said Bardia.

Interior renovations on the site's existing buildings would be based on needs of prospective tenants. Exterior work would include roof repairs, window replacement and reconstruction of stairs and walkways. Other work would include repairs to pavement, fencing, gates and roll-up doors.

While wind turbine manufacturer Change Wind Corp. has expressed interest in occupying the site, Bardia said that the company "is not operational yet. We're working toward that. Ideally, Change Wind would be the anchor tenant." He said that several companies have inquired about specific configurations of spaces in the development.

First Selectman Kevin Skulczyck said that the town's approval will enable Notus Eurus to move forward with applications for permits on the project. "This is the first application we've had" for the tax break, he said. The tax incentives would apply only to new construction, not to existing buildings on the property, he said.

The tax abatement plan was discussed and approved by the town's economic development commission, the selectman and the board of finance, said Skulczyck. "I look at this as a great opportunity for other companies to look at this ," he said.

Under the terms of the agreement with the town, construction on the site must begin within a year of approval and be completed within two years. If Notus Eurus fails to meet the conditions, the company would be liable for the full tax payment.

Resident Lauren Churchill cast the lone dissenting vote against the proposal at the town meeting. "I'm not a firm believer in if you build it, they will come," she said. "It doesn't seem to be a good bet. There are already a lot of empty, already-built places not filled."